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  • Hey all, just changed over the backend after 15 years I figured time to give it a bit of an update, its probably gonna be a bit weird for most of you and i am sure there is a few bugs to work out but it should kinda work the same as before... hopefully :)

Canadian Dollar plummets.

IAN SUN

IAN SUN

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This Really sucks. Second time this has happened just as I am about to purchase a RED camera. This something like a 10% cost increase for my EPIC X in the space of a couple of weeks. Same thing happened in early 2008 as I was scraping loonies together to pay for my R1. We were cruising real sweet above par, I think it peaked at about 1.10 and then just as I'm about to start transferring funds ...crash! The bottom falls out. If I had the spare resources I would have transfered the funds to my RED account weeks ago, instead of waiting till the last moment and suffering the inevitable burn.

CBC.loonie-new-low-friday.html
 
"It has lost 1.74 cents this week."


Less than two pennies? That doesn't sound catastrophic.
 
Good news is ALL fiat currencies are collapsing to ZERO. Hang on, it's gonna get rocky for a bit.. then it'll be smooooooth sailing ; )
 
1 UKP = 1.56 USD not so good either.

It would be interesting to know if Red prefer strong or weak USD.
 
Eric Rodemann said:
"It has lost 1.74 cents this week."


Less than two pennies? That doesn't sound catastrophic.
Click to expand...

Well I admit this falls into the category of "First World Problems" but it still does relatively suck. It was at about 1.04 recently, now its at around .94 so we lost like .10 in the last few weeks. And all of this due to weakness in the US and European economies, go figure. I guess that's what we get for being purveyors of green house gasses ; }
 
Its not just the Canadian $, it's also the Aussie $ down as well from $1.06 to about 95 cents in a week. Part of me is bitching about the downside with hardware/software costs but the other half is cheering with the upside of more work from oversea ie. production cost for overseas clients just got 10% cheaper. Win some loose some!
 
Ian,

Why did'nt you buy US when it was sitting above part and just put it in the RED account.

That would have put you ahead of the game.

David
 
Ya, because no matter how screwed up the American Economy is ...
Europe's ... (the new American model) is far worse.

America could never be so fiscally irresponsible without a basket case in Europe.

Actually Canada is one of the few countries that has its act together ... it just has many investors in America, depending on the green back exchange rate.
 
David Battistella said:
Why did'nt you buy US when it was sitting above part and just put it in the RED account.
Click to expand...
Hey David, Ian is a normal guy like me ... we were waiting for it to go up higher! Figured with Obama monetizing the debt the exchange rate would just get better, but of course the Europeans (in their own way) outdid Obama! I will have to tap into the Yuan account.
 
George Butterfield said:
Hey David, Ian is a normal guy like me ... we were waiting for it to go up higher! Figured with Obama monetizing the debt the exchange rate would just get better, but of course the Europeans (in their own way) outdid Obama! I will have to tap into the Yuan account.
Click to expand...

Yeah, that's it : )

David, if only I had those kind of reserves, I'd be sitting pretty maybe in someplace like Tuscany : )
Actually I did manage to put some money in a US account, but not enough to pay for everything. I'm scraping together the balance now.
 
Ian

I would trade reserves with you any day.

:)

Then maybe I'd be ahead in the game.
 
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IAN SUN said:
Yeah, that's it : )

David, if only I had those kind of reserves, I'd be sitting pretty maybe in someplace like Tuscany : )
Actually I did manage to put some money in a US account, but not enough to pay for everything. I'm scraping together the balance now.
Click to expand...

Ian, Canadian dollar is resources (commodities) dependent dollar and in particular oil prices.
Recently Canada took over as a largest exporter of oil to US.
So wait till oil will go up and Canadian dollar will go up.
Over impose last 3 years of oil prices graph and Canadian dollar value and you will see resemblance.
If you want to protect yourself from Canadian dollar drop in value you have to short the Oil futures.
Yes it cost $2 for each $100 protected this way but it may safe you $10-$15

Well I still think economy will move forward and so the commodities prices will go up and Canadian dollar will go through the roof, but it will be probably after you buy Epic :-(

Andrew
 
Andrew M. said:
So wait till oil will go up and Canadian dollar will go up.
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Oil is paid for in US Dollars, so when Obama Monetizes the debt there are more greenbacks in circulation so naturally the Arabs say ... you must now pay more of that counterfeit money for our oil. Why don't you drill your own? So the Canadian dollar following the price of Oil is an artifact. The real reason for the rise in Oil prices is Obama Monetizing the debt. However, this is not hurting the US Economy right now because the Big Government European model is about to bring Europe to it's knees. Putin apparently is ready to ride in as Europe's saviour. At a high cost to America?
 
Exactly, Josh. I also remember a guy, who soon after the Haiti disaster was so proud to "help the poor" by bringing his Red and filming those devasted landscapes and people. A few years later, nothing has really changed for them, as well as for the Hollywood people ;-)
 
Things that make me ill: Journalists who pour into devastated areas to capture victim's raw pain in their most vulnerable and personal state . . . for their own career advancement.
A bit off topic but your reference to Haiti made me think of it.
 
Josh Beadle said:
Things that make me ill: Journalists who pour into devastated areas to capture victim's raw pain in their most vulnerable and personal state . . . for their own career advancement.
A bit off topic but your reference to Haiti made me think of it.
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Where does all that Haiti aid go? Is it just a money laundering scheme to get money into Politicians and Rock Stars Swiss Bank Accounts?
 
Josh Beadle said:
Things that make me ill: Journalists who pour into devastated areas to capture victim's raw pain in their most vulnerable and personal state . . . for their own career advancement.
A bit off topic but your reference to Haiti made me think of it.
Click to expand...



Agree. Most of the tine you can find serious social problems within 5km of your home, no matter where you live in the world.
 
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